real estate news

Microsoft India Invests ₹453 Crore in Pune's IT Hub Hinjewadi, Expands Footprint in India

By GeoSquare News Desk · Published 2024-09-13

Global tech giant Microsoft has invested close to ₹453 crore on a land parcel spread across an area of 16.4 acres in Pune’s Hinjewadi, a major IT hub. This is the company's second major land deal in the city in recent times.

The recent land deal in Pune, registered in September 2024, involved the purchase of 66,450 square meters (approximately 16.4 acres) from Viva Highways Limited. This transaction was registered on September 5 and incurred a stamp duty of ₹27.18 crore and a registration fee of ₹30,000.

Microsoft had earlier bought a similar-sized land parcel of over 16 acres in Pune's Hinjewadi for ₹519.72 crore. With this deal, Microsoft has so far bought land parcels worth ₹972 crore in the last one month in Pune.

In recent years, Microsoft’s investments in India's commercial real estate sector have increased, spanning data centers, development centers, and flexible office spaces. The company's real estate deals in India include the acquisition of 10.89 lakh sq ft of commercial plot in Pune from Finolex Industries for ₹328.84 crore in 2022.

Earlier this year, Microsoft secured 48 acres of land in Hyderabad for ₹267 crore. India is emerging as a key market for tech expansion, with a strong talent pool and maturing infrastructure.

“India is the most exciting market for tech expansion right now, having a strong talent pool across the country and a maturing infrastructure for global tech giants. Demonstrating this trend, our data intelligence research on registered land transactions indicates that more and more tech-oriented global companies are expanding their presence in India for new office spaces, development centers, and data centers,